- Huw Hughes |
Tiffany & Co executive board member Francesco Trapani has exited the luxury jeweler just a week after it was acquired for 16.2 billion dollars by luxury conglomerate LVMH.
According to a SEC filing, Trapanin’s decision to resign was “not the result of any disagreement with Registrant’s operations, policies or procedures or any matter related to Registrant, but that he was resigning in order to pursue other opportunities.”
Trapanin joined Tiffany’s in 2017 after working as CEO of Italian jewelry house Bulgari, a brand that LVMH bought for around 5.2 billion dollars in 2011.
According to an unnamed source speaking with Reuters, LVMH CEO Bernard Arnault used the close connection between LVMH’s managing director Antonio Belloni with Tiffany’s CEO Alessandro Bogliolo and Trapani - the latter two had worked together at Bulgari - to facilitate last week’s acquisition.
Photo credit: Tiffany & Co, Facebook